Microeconomics
This assignment is a research project meant to help you synthesize and analyze course information in a meaningful way. You will need to do outside research. You will turn in a single PDF of your work.
Step 1: Developing Your Pitch
In this project, you will develop a product that you will pitch to investors. In your pitch, you will develop a business plan that answers specific questions and helps the investors understand that the product in your company is worthy of their investment. You will draft a sales pitch asking investors to invest in the company, which will include information about the product that you gain through research.
Begin by answering basic economic questions: what will you produce, who will purchase the product, and how do you plan to produce it?
Explain if consumer demand is strong enough to support the development of the product. In this section, explain the interplay of supply and demand and how you know that the product will sell successfully.
Explain whether the product is elastic or inelastic based on your research of the industry. Explain how this will impact the profitability of the company.
Additionally, research your product and industry to explain any current price ceilings or price floors for your line of goods. Explain how this will impact the profitability of the product.
Explain who the principal agents are in your company and your marginal and average costs. Explain whether your average, marginal, and total costs will exceed profit and how that impacts the profitability of the company. Explain how you will utilize marginal utility to ensure that you are producing at the optimal rate for profitability and efficiency. In this section, make sure to include any and all graphs to support your logic.
Step 2: Length and Formatting
Each question should be answered in paragraph form with graphs and calculations to support your assertions. Each answer should be at least 250 words long and include the sources cited in MLA format. Start with a well-developed introduction paragraph and end with a strong concluding paragraph.
